The UK government on Tuesday night agreed a £5m bail-out of LDV, the stricken Midlands vanmaker, in a controversial move that marks a symbolic shift in Labour’s recession-time industrial policy. Ministers stressed that the four-week taxpayer-funded loan, designed to secure a rescue deal by Malaysian vehicles business Weststar, was a “one-off” that did not set a precedent for more hand-outs to LDV or other ailing companies.

This entry was posted by Gwen Robinson on Wednesday, May 6th, 2009 at 5:18 and is filed under Capital markets, M&A. Tagged with LDV, Weststar. Edit this entry.